Mitsubishi Corp. and Chiyoda Corp. said Monday they will build a new international airport in Mongolia to boost travelers and bolster the fast-growing North Asian economy.
Under their accord with the Civil Aviation Authority of Mongolia, their roughly ¥50 billion project to create a new airport on the plains 50 km southwest of Ulan Bator will make use of Japanese technology and loans, the two firms said in a joint press release.
The only international airport is Chinggis Khaan International Airport, but takeoffs and landings are restricted due to climatic conditions and the airport's proximity to the mountains, they said. The project will include creating a 3,600-meter runway for large aircraft and a terminal for 2 million passengers per year, and the supply of air traffic control systems, the two firms said.